US Secretary of Defense, Lloyd Austin, confirmed on Tuesday that the attacks have already affected the global economy, and will continue to threaten commercial shipping if the international community does not come together to address this issue collectively.

This came during a virtual ministerial meeting with ministers, defense chiefs and senior representatives from 43 countries, in addition to the European Union and NATO.

Austin said that the growing Houthi threat to maritime security in the Red Sea represents “an unprecedented global challenge that requires collective action,” reiterating his country’s commitment to freedom of navigation and the free flow of trade.

Austin stressed the United States’ commitment to freedom of navigation and the free flow of trade in the region’s vital waterways, noting that Houthi attacks lead to “destabilization of maritime security.”